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Samsung's Net Falls 46% on Chip, Cellphone Margins

Samsung Electronics Co. reported a 46% drop in
second-quarter net profit, in line with expectations, as margins tightened for
its two biggest products -- cellphones and memory chips.

Samsung executives reiterated earlier forecasts for a
stronger second half of te year, citing a leveling off in the price of memory
chips used in computers and strong demand for the chips used in digital cameras
and music players.